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Jun 17, 2013
06/13
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it's been five years since the meltdown wreaked havoc on the global economy. they detail their thesis in the newest institutional investor magazine. next is your asia group president ian bremmer. thanks for being here. >> hi, marie a. glad to be here. >> take us through what you deem to be the new abnormal. >> first, asian markets are doing most of the growing at coming out of the financial crisis, and they are much more uncertain, much more volatile. we see that. whether we talk about turkey or brazil, you've got two governments you thought were doing really well just having the worst week of their careers. a lot of uncertainty across the merging market much more than in the united states or japan or even europe structurally in the last five years. and at the global level, the lack of leadership we continue to see, if anything, it's becoming more obvious, more in evidence at the g-8 right now, making it incredibly difficult to either have agreements on things like syria and the middle east which continues to become much more explosive along sectarian lines, o
it's been five years since the meltdown wreaked havoc on the global economy. they detail their thesis in the newest institutional investor magazine. next is your asia group president ian bremmer. thanks for being here. >> hi, marie a. glad to be here. >> take us through what you deem to be the new abnormal. >> first, asian markets are doing most of the growing at coming out of the financial crisis, and they are much more uncertain, much more volatile. we see that. whether we...
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Jun 20, 2013
06/13
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who could believe that anyone would actually want our economy to be weak? who would want people thrown out of work? that's how bonds work. people want to bid them up on bad news and sell them on good news. normally, you wouldn't have to worry about any of this. these are not normal times. again, imagine the united states is a stock that pays an okay dividend. we know that as stocks go down the yield goes higher. that's because the dividend stays the same but when you divide it by the share price the declining stock, well, the yield grows. right? i mean, pays $4 dividend. it's at 100. and then the stock goes to 80. well, obviously the dividend's yield is higher. so when sellers knock this country's stock down, it gets a bigger yield. suddenly the stock of the united states, continuing the fictional analogy-s once again competitive with the stocks of individual companies that people are hiding in on a yield basis. remember that tent, the hiders and capital appreciation people? yeah, that's right. the price of the u.s. fell so hard today off bernanke's happier
who could believe that anyone would actually want our economy to be weak? who would want people thrown out of work? that's how bonds work. people want to bid them up on bad news and sell them on good news. normally, you wouldn't have to worry about any of this. these are not normal times. again, imagine the united states is a stock that pays an okay dividend. we know that as stocks go down the yield goes higher. that's because the dividend stays the same but when you divide it by the share...
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Jun 18, 2013
06/13
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one of the biggest problems in the economy, interesting changes here. used to be concerned about too little deficit reduction. that back in april. that's fallen off. not a whole lot of concern about deflation or overall inflation and a little bit more concern about too much deficit reduction, that the sequester is hitting the economy in a bad way, but those aren't on the top. let's go to the next one to look at the top, the next graphic, there we go. the european financial crisis falling off, slow job growth and tax and regulatory policies the two maintaining the top spot for the second month in a row. let's see some of the other ones, 11% sluggish overseas growth, overall uncertainty. asset price bubbles and declines. slow income growth, slow overall growth, and then there's negative economic commentary by the press. thought i'd throw that in there. someone did mention that. as for the overall economic outlook, really unchanged since the april survey. looking for 2.1% year over year and accelerating to 2.6% next year. tyler, not a lot of concern about
one of the biggest problems in the economy, interesting changes here. used to be concerned about too little deficit reduction. that back in april. that's fallen off. not a whole lot of concern about deflation or overall inflation and a little bit more concern about too much deficit reduction, that the sequester is hitting the economy in a bad way, but those aren't on the top. let's go to the next one to look at the top, the next graphic, there we go. the european financial crisis falling off,...
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Jun 18, 2013
06/13
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broader economy, and their own country or the world. my question for janet is, the surprising thing to me about this report is that north america and the developed countries are actually back on top when it comes to wealth creation. if you look at china, you look at brazil, russia, the developing, emerging markets, which are supposed to be the new thing when it came to the world of wealth, and they're really secondary now. did we all get too bullish when it came to wealth creation in emerging markets? >> i think we're looking at short-term patterns here. the belief is when we look at asia-pacific, some of the developing economies, they will probably be back on top in the near term. particularly asia-pacific, which we think will have the fastest growth rate to 2015 where we think world wealth will be -- find net worth over 55 trillion. think about the volatility in the marks. in 2010, 2011, and think about what the u.s. markets did and, quite frankly, u.s. real estate. so it's really not a surprise. we flip-flopped a little bit in 2012 w
broader economy, and their own country or the world. my question for janet is, the surprising thing to me about this report is that north america and the developed countries are actually back on top when it comes to wealth creation. if you look at china, you look at brazil, russia, the developing, emerging markets, which are supposed to be the new thing when it came to the world of wealth, and they're really secondary now. did we all get too bullish when it came to wealth creation in emerging...
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Jun 17, 2013
06/13
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what does this say about the state of the american economy when we're talking about this story? >> one of the things that hasn't come out, the analogy of having a modern day plantation scheme. the perpetrators were pakistani and filipino and the victims were pakistani and filipino, that's number one, so it's very interesting intracultural thing going on, and also i think there's -- this sort of speaks the whole problem of immigrat n immigration. these are people who we have haphazard immigration system, there are people here that the black market sort of takes care of and handles rather than -- >> or abuses. >> or allows people a path to citizenship. >> more clarity less likely to be abuse. >> i'm unclear about the role of fear versus choice. you're saying that the people who were perpetrating themselves were the pakistanis and filipinos. >> correct. >> what does that tell us about the scheme? who started it, what's the chicken and what's the egg here? >> my guess is they had some program with relatives and friends back in the philippines and pakistan saying come work for my unc
what does this say about the state of the american economy when we're talking about this story? >> one of the things that hasn't come out, the analogy of having a modern day plantation scheme. the perpetrators were pakistani and filipino and the victims were pakistani and filipino, that's number one, so it's very interesting intracultural thing going on, and also i think there's -- this sort of speaks the whole problem of immigrat n immigration. these are people who we have haphazard...
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Jun 21, 2013
06/13
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the economy is getting better. but i think you have to slowly put your money that you have on the sidelines into cash. yesterday money only went to cash. you know, the commodity complex sold off. the bonds sold off. equities sold off. emerging markets got hammered. i think there's more dry powder on the sidelines. i think we just have to see if certain levels hold. but we're still very constructive going forward with a 1650 to 1700 s&p target. the problem is this. when volatility increases, anxiety increases. and investors seek certitude. the fed did not give us full certitude because they were talking one thing while the market was bringing rates up ahead of them. i think it's something we have to watch and just be flexible right now. >> you bring up an interesting point. the algorithms and the computerized trading. we've talked, you know, we were yus talking about someone else who was mentioned in morning money. i know that's something ron baron mentioned. doug cass was just talking about that. how big of a probl
the economy is getting better. but i think you have to slowly put your money that you have on the sidelines into cash. yesterday money only went to cash. you know, the commodity complex sold off. the bonds sold off. equities sold off. emerging markets got hammered. i think there's more dry powder on the sidelines. i think we just have to see if certain levels hold. but we're still very constructive going forward with a 1650 to 1700 s&p target. the problem is this. when volatility increases,...
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Jun 17, 2013
06/13
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the two largest economies in the world, especially when you put all the european economies together. that's really going to be overshadowed by syria. the other thing about the free trade talks is the french are already complaining saying they want their art and film industry protected. they seem to have forgotten that gerard depardieu has already moved. they are saying the economy remains weak, but they are very focused, larry, on getting everyone to pay more taxes. they definitely want that for sure. >> what a great idea. it's a six-quarter double-dip recession. >> yeah. >> and they want everybody to pay more taxes, michelle. i mean, i just love that. just love that. what a -- there's no -- there's no word in european speak for capitalisma, is there? >> when they see high levels of tax evasion they think everybody needs to enforce better instead of realizing the best way to combat tax evasion and to lower tax evasion is to lower taxes. >> oh, michelle. i am sending you in to do battle. how good is that. >> good luck. >> as always, many, many thanks to cnbc's michelle caruso-cabrera.
the two largest economies in the world, especially when you put all the european economies together. that's really going to be overshadowed by syria. the other thing about the free trade talks is the french are already complaining saying they want their art and film industry protected. they seem to have forgotten that gerard depardieu has already moved. they are saying the economy remains weak, but they are very focused, larry, on getting everyone to pay more taxes. they definitely want that...
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Jun 21, 2013
06/13
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i think it needs to broaden the economy. that's very, very difficult for brazil at the moment. >> i mean, it does -- all roads lead to china. this is where, you know, this liquidity story, the timing of the pboc decision to try and teach the bank and the financial system a lesson is -- is really unfortunate. because, as you were saying earlier, it's really bad timing coming at the same point as we're trying to come to terms with this -- or accurately price the prospect of fed tapering. and, you know, this does pose quite a growth risk going into the second half for china, i think. >> what is the -- what is this -- 7% growth rates from 9%. they're trying to rein in the credit in the secondary banking system, chris. how is that going to spill out into asian -- asian emerging markets? >> it's going to be -- it's going to be quite powerfully negative, i think. and i think the other thing as proliferation countries are dealing with is the yen. essentially japan is exporting deflation. they may be trying to create inflation in the
i think it needs to broaden the economy. that's very, very difficult for brazil at the moment. >> i mean, it does -- all roads lead to china. this is where, you know, this liquidity story, the timing of the pboc decision to try and teach the bank and the financial system a lesson is -- is really unfortunate. because, as you were saying earlier, it's really bad timing coming at the same point as we're trying to come to terms with this -- or accurately price the prospect of fed tapering....
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Jun 17, 2013
06/13
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the economy. not market, but overall economy. why do you think they need to stay around for so long? >> well, i don't think they do. i just think they will. i think if you look at how they've been talking lately and how they've changed their tone, they're talking a little more about i inflation, another reason to keep providing stimulus. i don't think that's by accident. i'd also say that i think a lot of what you're hearing out of the fed is really just designed to increase uncertainty in the near term because what they don't really -- what they can't let happen is for the markets to price in the end game. they can't let the market price in when tapering ends. they don't care if people know when it begins. if people know when tapering ends, they can figure out the pathway and all the smart people i work with can price that the second after it happens. it will be too disruptive. >> that's why the market is even reacting to the idea that tapering is going to come at some point. it used to be that you'd react to the change in inter
the economy. not market, but overall economy. why do you think they need to stay around for so long? >> well, i don't think they do. i just think they will. i think if you look at how they've been talking lately and how they've changed their tone, they're talking a little more about i inflation, another reason to keep providing stimulus. i don't think that's by accident. i'd also say that i think a lot of what you're hearing out of the fed is really just designed to increase uncertainty...
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Jun 19, 2013
06/13
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i see a lot more softness in the economy. if i go back and read the beige book, i didn't everybody see the word robust ever. so i don't think that we'll be looking at a change in fed stance for the rest of this year. >> cody, too, from honeywell when he was on here, he was like, no, i don't see anything. so that's not even high tech stuff necessarily. julia, where are you on this? >> i think that they will try to continue to socialize the idea of adjusting the pace of purchases. i think that it's something that the committee wants to do. the committee is getting nervous with never ending qe at the same pace and then ever expanding balance sheet. there are many on the committee that do see progress, particularly in the labor market. and i think that's the key. we do need to get a better sense of what they're looking for in the labor market, number one. do we have to see hiring get even better than it's been. or just more of the same for a longer period good enough to take a step back. remember, to them, tapering is not a tight
i see a lot more softness in the economy. if i go back and read the beige book, i didn't everybody see the word robust ever. so i don't think that we'll be looking at a change in fed stance for the rest of this year. >> cody, too, from honeywell when he was on here, he was like, no, i don't see anything. so that's not even high tech stuff necessarily. julia, where are you on this? >> i think that they will try to continue to socialize the idea of adjusting the pace of purchases. i...
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Jun 18, 2013
06/13
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you know, it's still an economy full employment. we wish a lot of the european economies would have that situation. i find it difficult to find good talent at a reasonable price there. we have a team in brazil, 15 analysts there, and it's just an antidotal evidence, but it is proven to point. >> marfrig, what do they do? >> marfrig is a meat producer, one of the largest meat producers in brazil, and cernig is a utility company. >> okay. why do those two -- >> well, marfrig enjoys from the fact we're the commodity cycle, brazil is one of the lowest cost producers in beef. so, in a scenario where foods demand is still on the rise, we think they're going to do very, very well. we think that the balance sheet issues are going to be overcome. so, it's a restructuring story as well. on the cemig side, utilities in brazil have suffered quite a bit from the utility bill and the tariff provisions. what we're saying here is going forward, that's already in the price, so going forward, the outlook looks good. >> cemig, as we come back to talk
you know, it's still an economy full employment. we wish a lot of the european economies would have that situation. i find it difficult to find good talent at a reasonable price there. we have a team in brazil, 15 analysts there, and it's just an antidotal evidence, but it is proven to point. >> marfrig, what do they do? >> marfrig is a meat producer, one of the largest meat producers in brazil, and cernig is a utility company. >> okay. why do those two -- >> well,...
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Jun 18, 2013
06/13
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economy would not only be a stall on the u.s. economy as we see the policies set be i the fed are being imitated this is what draggy has been doing in europe and in japan. i many own sense is that for a short period of time, probably another two or three quarters. it's important for america to continue to provide the leadership that will allow a global recovery to occur. then we do have to get on with the business of solving structural issues. i don't think it will be easier to solve structural issues if we find ourselves back in the state in the recovery we currently have is going to be questioned. >> i think that's right nevada the confidence fa we node to keep if economy going seems to be correlated to the market's perception of what the fed is doing. and maybe we're surprised by that a little bit because the fundamentals shouldn't be so checked. but the pact is, they are. the psychology, the canesian animal spirits, if you will, seem to be realed to the market's reactions to where the fed is on the issue. and i think what you
economy would not only be a stall on the u.s. economy as we see the policies set be i the fed are being imitated this is what draggy has been doing in europe and in japan. i many own sense is that for a short period of time, probably another two or three quarters. it's important for america to continue to provide the leadership that will allow a global recovery to occur. then we do have to get on with the business of solving structural issues. i don't think it will be easier to solve structural...
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Jun 18, 2013
06/13
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our economy and our democracy. so i'm not the least bit surprised. i'm pleased that in this case, which is an older case, that it was solved efficiently. >> mr. kallstrom, you say that you believe that trust has been promised for the american people. what should the response be? how do you regain that trust? how do we set the system straight? >> by having people that pontificate on television tell the truth. if they can't tell the truth for reasons of classification, then they say so. but, you know, i'm not saying that the ends justify the means in any case, even if the trust of the government was 90%, which it never will be, but it clearly doesn't help to have all these things going on about benghazi and the irs and all these other things. you know, it costs a crooked eye to the whole government. it's going to be difficult to maintain these types of systems -- >> so what -- forgive me. i don't mean to interrupt. you have a problem probably with the line here. what is the truth that you believe is not being said in public that needs to be said? >> yo
our economy and our democracy. so i'm not the least bit surprised. i'm pleased that in this case, which is an older case, that it was solved efficiently. >> mr. kallstrom, you say that you believe that trust has been promised for the american people. what should the response be? how do you regain that trust? how do we set the system straight? >> by having people that pontificate on television tell the truth. if they can't tell the truth for reasons of classification, then they say...
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Jun 17, 2013
06/13
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>> on the economy of jobs. he's within the margin of error and that's the encouragement here, that this isn't some devastating dive that's unrecoverable. i think mark's point about the clump of scandal coverage is certainly something that would have an impact. and to your point that voters look around and say, well, nothing's getting done in washington and does obama bear some blame for that? >> one of the things that's interesting is he has a huge drop among young voters, down 17 points in the last month among people under 30. one thing he's done that people disagree with also even more is on syria, 70% of americans oppose sending arms to the syrian rebels, according to the pew poll conductsed before the announcement on chemical weapons. this is exactly what president clinton in that, quote unquote private meeting said don't worry about the polls, just do what's right. >> as the one member of this panel who doesn't look at trend lines, i guess, i feel i need to speak for the nontrend line viewers. >> we apprec
>> on the economy of jobs. he's within the margin of error and that's the encouragement here, that this isn't some devastating dive that's unrecoverable. i think mark's point about the clump of scandal coverage is certainly something that would have an impact. and to your point that voters look around and say, well, nothing's getting done in washington and does obama bear some blame for that? >> one of the things that's interesting is he has a huge drop among young voters, down 17...
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Jun 16, 2013
06/13
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i'll worry about the economy more than a few times before they're grown. but it's for them, so i've found a way. who matters most to you says the most about you. at massmutual we're owned by our policyowners, and they matter most to us. ready to plan for your future? we'll help you get there. always go the extra mile. to treat my low testosterone, i did my research. my doctor and i went with axiron, the only underarm low t treatment. axiron can restore t levels to normal in about 2 weeks in most men. axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. women, especially those who are or who may become pregnant and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. report these symptoms to your doctor. tell your doctor about all medical conditions and medications. serious side effects could include increased risk of prostate cancer; worsening prostate symptoms; decreased sperm count; ankle, feet or body swell
i'll worry about the economy more than a few times before they're grown. but it's for them, so i've found a way. who matters most to you says the most about you. at massmutual we're owned by our policyowners, and they matter most to us. ready to plan for your future? we'll help you get there. always go the extra mile. to treat my low testosterone, i did my research. my doctor and i went with axiron, the only underarm low t treatment. axiron can restore t levels to normal in about 2 weeks in...
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Jun 17, 2013
06/13
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normally when the economy starts to go up, and optimism goes up, the president goes with it. the effect this president is going down and the economy is going up, that's troubling. >>> back to the poll numbers as it concerns union people, gloria. so republica's want to gain young people, right? they're not doing so good in that category, either. does this help them? >> look, it gives them an +y if you're a republican now and looking at they numbers, you're thinking, what do i need to do for myself? i don't need to be seen as being a friend of president president d8so if you're a republican, you're saying, well, maybe there's an opportunity for us with younger voters, particularly as you look towards 2016, which of course they're all looking towards. they have a batch of judger candidates. if they get immigration reform passed, maybe they can start appealing to hispanic voters, some minority voters. if you're looking at this and you're a republican in congress, you're saying number one, i'm not as afraid of the president as i might have been. and two i see some openings here fo
normally when the economy starts to go up, and optimism goes up, the president goes with it. the effect this president is going down and the economy is going up, that's troubling. >>> back to the poll numbers as it concerns union people, gloria. so republica's want to gain young people, right? they're not doing so good in that category, either. does this help them? >> look, it gives them an +y if you're a republican now and looking at they numbers, you're thinking, what do i need...
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Jun 17, 2013
06/13
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. >> and, by the way, economy, an economy that's -- >> and the economy. >> all right, we'll wait and see on that one. it's not quite back yet. >> just ahead, was celebrity tv chef nigella lawson publicly choked by her husband? and why some families worry about the bread their eating and why wheat farmers are worried about losing money. it's monday, a brand new start. with centurylink visionary cloud infrastructure, and custom communications solutions, your business is more reliable, secure, and agile. we know it's your videoconference of the day. hi! hi, buddy! that's why the free wifi and hot breakfast are something to smile about. book a great getaway now and feel the hamptonality >>> questions are swirling about the marriage of celebrity chef nigella lawson after pictures surfaced of her husband with his hand around her neck at a restaurant. her husband is denying any claims he attacked her. cnn's international correspondent matthew chance is in london with the latest. matthew, these pictures just look awful. >> they do. they really illustrate as well, jim, the idea that if you're
. >> and, by the way, economy, an economy that's -- >> and the economy. >> all right, we'll wait and see on that one. it's not quite back yet. >> just ahead, was celebrity tv chef nigella lawson publicly choked by her husband? and why some families worry about the bread their eating and why wheat farmers are worried about losing money. it's monday, a brand new start. with centurylink visionary cloud infrastructure, and custom communications solutions, your business is...
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Jun 17, 2013
06/13
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ers are going down but the economy is going up, if you study politics, it's that rising tide of an economy that holds a president in trouble up. if you're team obama and people are feeling better about the economy but your numbers are going down, the new warning light is flashing. >> john, thank you for that. appreciate that. maybe see the president doing some more feel good appearances coming up. >> that's exactly what we're going to see. >>> president obama is in northern ireland for the g-8 summit. his trip comes aá a difficult time. the british newspaper, "the guardian," has dropped yet another security bombshel&. it claims in 2009 british intelligence spied on its allies at two g-20 summit meetings in london. our jessica yellin has more from the g-8 summit in ireland. >> reporter: kate, president obama arrived at the summit site, and he will sit down for his first one-on-one meeting in the next hour, and it's with british prime minister david casq) cameron. the two now have something new in common. the latest report from "the guardian" fingers both the u.s. and the uk for spying on f
ers are going down but the economy is going up, if you study politics, it's that rising tide of an economy that holds a president in trouble up. if you're team obama and people are feeling better about the economy but your numbers are going down, the new warning light is flashing. >> john, thank you for that. appreciate that. maybe see the president doing some more feel good appearances coming up. >> that's exactly what we're going to see. >>> president obama is in northern...
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Jun 22, 2013
06/13
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the economy has held up well. maybe more of a c plus. i give it a b minus because the government sector is fading. >> he is talking about washington belt tightening at exactly the wrong time says this former clinton adviser. >> on fiscal policy from the congress i am afraid i will not give a passing grade right now. >> reporter: "the wall street journal" editorial writer and critic of the obama administration. >> i give it about a b minus but i'm optimistic about the future. you got the low interest rates, housing recovery. i'm pretty optimistic we may see that b minus turn into a b plus. >> reporter: and, finally, the former chair of president obama's economic team doesn't give a grade but nails how many americans are feeling about the economy. >> i don't know. the economic conditions i'd say modest at best. >> reporter: christine romans, cnn, new york. >> thank you very much. >>> a guy with a famous last name is going to try something tomorrow that would make his great grand daddy very proud if he doesn't die trying. nick wallenda, yes
the economy has held up well. maybe more of a c plus. i give it a b minus because the government sector is fading. >> he is talking about washington belt tightening at exactly the wrong time says this former clinton adviser. >> on fiscal policy from the congress i am afraid i will not give a passing grade right now. >> reporter: "the wall street journal" editorial writer and critic of the obama administration. >> i give it about a b minus but i'm optimistic...
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Jun 15, 2013
06/13
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uncertainty about the fed's role in propping up the economy. i am christine romans. this is "your money." >>> from space, earth appears peaceful. while science points to a u.s. economy that is ready to take off, the rest of the world is struggling to take fights. riots in turkey, slow growth in china, unrest over
uncertainty about the fed's role in propping up the economy. i am christine romans. this is "your money." >>> from space, earth appears peaceful. while science points to a u.s. economy that is ready to take off, the rest of the world is struggling to take fights. riots in turkey, slow growth in china, unrest over
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Jun 16, 2013
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up next, a world economy in turmoil. derail america's economic comeback. christine romans has answers. "your money" starts right now. >>> another week of volatility in the markets. the reason, we global unrest and uncertainty about the fed's role in propping up the economy. i'm christine romans, this is your money. from space, earth appears peaceful. take a closer look. while signs point a u.s. economy ready to take off, the rest of the world is struggling to take flight. riots in turkey. slowing growth in china. unrest over harsh cuts in greece. from extreme greed to extreme fear. concerns over
up next, a world economy in turmoil. derail america's economic comeback. christine romans has answers. "your money" starts right now. >>> another week of volatility in the markets. the reason, we global unrest and uncertainty about the fed's role in propping up the economy. i'm christine romans, this is your money. from space, earth appears peaceful. take a closer look. while signs point a u.s. economy ready to take off, the rest of the world is struggling to take flight....
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Jun 18, 2013
06/13
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i'll worry about the economy more than a few times before they're grown. but it's for them, so i've found a way. who matters most to you says the most about you. at massmutual we're owned by our policyowners, and they matter most to us. ready to plan for your future? we'll help you get there. [ whirring ] [ dog barks ] i want to treat more dogs. ♪ our business needs more cases. [ male announcer ] where do you want to take your business? i need help selling art. [ male announcer ] from broadband to web hosting to mobile apps, small business solutions from at&t have the security you need to get you there. call us. we can show you how at&t solutions can help you do what you do... even better. ♪ >>> our second story "outfront," held captive in ohio. so for the second time if two months we're hearing people being held captive against their will in ohio. this time, a woman and child allegedly held for two years. according to federal authorities, the disabled woman and her daughter were allegedly held in an apartment in ashland, ohio, where they were forced t
i'll worry about the economy more than a few times before they're grown. but it's for them, so i've found a way. who matters most to you says the most about you. at massmutual we're owned by our policyowners, and they matter most to us. ready to plan for your future? we'll help you get there. [ whirring ] [ dog barks ] i want to treat more dogs. ♪ our business needs more cases. [ male announcer ] where do you want to take your business? i need help selling art. [ male announcer ] from...
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Jun 19, 2013
06/13
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nobody expects they're going to stop pumping money into the economy but we know they're going to do it at some point but wall street is going to be reading between every line to get a sense of timing and nuance. rbc capital markets put it this way the markets will be looking for a distinction between applying less pressure to the gas pedal and hitting the brake. it's that balance that ben bernanke is trying to get right. and meanwhile there's speculation about who's going to succeed mr. bernanke. in an interview with charlie rose president obama said bernanke has already stayed a lot longer than he wanted or he was supposed to. ben bernanke's made no secret of the fact he wants to go home. >>> it has been 684 days since u.s. lost its top credit rating. what are we doing to get it back? there is more good news on housing. the government report shows the pace of home building rose 7%. >>> our fourth story "outfront" evidence mounting tonight against ex-mob boss james known as whitey bulger. prosecution star witness and former hit man john martorano took the stand again today. for the fir
nobody expects they're going to stop pumping money into the economy but we know they're going to do it at some point but wall street is going to be reading between every line to get a sense of timing and nuance. rbc capital markets put it this way the markets will be looking for a distinction between applying less pressure to the gas pedal and hitting the brake. it's that balance that ben bernanke is trying to get right. and meanwhile there's speculation about who's going to succeed mr....
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Jun 18, 2013
06/13
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who will be the person who will have to withdrawal the massive stimulus and what will happen to the economy and the stock market when that happens. >>> health care prices are going up. costs rise 6.5% next year. that includes doctor visits, drugs, surgery, prices are rising faster than inflation. that's not a news flash. here is the good news. this year, prizes rose 7.5%. it's because people are becoming more cost conscious. they are cutting down on doctor visits and choosing cheaper providers. >>> coming up, cliff rescue. two teenage boys stranded at the top of the cliff and they had no way down. we'll show you the rescue caught on camera. look at that. it's coming up next. the first time i saw a sony 4k tv, it was like opening my eyes. it's four times the detail of hd. colors become richer. details become clearer. which for a filmmaker, changes everything. because now there are no more barriers between the world that i see and the ones i can show you. the sony 4k ultra hd tv. >>> defending the nsa, president obama on the record about why the controversial surveillance program isn't as inv
who will be the person who will have to withdrawal the massive stimulus and what will happen to the economy and the stock market when that happens. >>> health care prices are going up. costs rise 6.5% next year. that includes doctor visits, drugs, surgery, prices are rising faster than inflation. that's not a news flash. here is the good news. this year, prizes rose 7.5%. it's because people are becoming more cost conscious. they are cutting down on doctor visits and choosing cheaper...
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Jun 21, 2013
06/13
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CNNW
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i'll worry about the economy more than a few times before they're grown. but it's for them, so i've found a way. who matters most to you says the most about you. at massmutual we're owned by our policyowners, and they matter most to us. ready to plan for your future? we'll help you get there. >> i'm sorry, this actually never happened to me. >> you know what that is? that is payback, cooper. >> that is going to follow me to my grave. >> he ordered that specifically. you know that. >> i was proud of you in that moment. i watched it live on television. anderson cooper here, ladies and gentlemen. here on "new week." great way to end. we have john berman here with what he learned on the internets. anderson cooper edition. >> you were tasked with just looking stuff up. >> this is like the easiest project ever. things have gone well for me here at cnn. >> this must be a career high point for you. >> indeed, it is. >> he is stalling. don't let him stall you. >> there were 1.2 million hits of that video of you giggling. that's huge on the internet. also big, you k
i'll worry about the economy more than a few times before they're grown. but it's for them, so i've found a way. who matters most to you says the most about you. at massmutual we're owned by our policyowners, and they matter most to us. ready to plan for your future? we'll help you get there. >> i'm sorry, this actually never happened to me. >> you know what that is? that is payback, cooper. >> that is going to follow me to my grave. >> he ordered that specifically. you...
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Jun 15, 2013
06/13
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it is a real issue for the education system, for the economy, for everyone and also politically. mitt romney still got 90% of his votes from whites in a country that is 37% nonwhite now. so jeb bush i think is ringing a gong that his party needs to hear. on the other front, you know, any time you see a hillary clinton sighting it feels like we're heading to iowa soon candy, that brings us to "state of the state the union" this sunday. i assume some of these topics will be coming up. >> yes. we'll be talking to mike rogers, head of the intelligence committee, on the house side will be among our guests. we'll talk about syria and what needs to be done there. also nsa and where we think this is all going. and immigration, which by the way, is on the floor of the senate. they didn't do much this week. it looks a little bit like a hot mess right now. but we'll try to figure out what the future of that bill is. >> all right. candy crowley, we'll be watching this sunday. thank you very much for your time. ron brownstein, thanks to you as well. appreciate it. >>> new jersey governor chri
it is a real issue for the education system, for the economy, for everyone and also politically. mitt romney still got 90% of his votes from whites in a country that is 37% nonwhite now. so jeb bush i think is ringing a gong that his party needs to hear. on the other front, you know, any time you see a hillary clinton sighting it feels like we're heading to iowa soon candy, that brings us to "state of the state the union" this sunday. i assume some of these topics will be coming up....
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Jun 19, 2013
06/13
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economy, is the economy strong enough to stand on its own? wall street nervous, the dow posted triple-digit moves, you guys, past six sessions, dow futures up 29 points right now. brand new cnn/orc poll most americans say the economy is in poor shape and when it comes to people's finance more pessimism. 44% say they're financially worse off than a year ago, only 36% say they're better off. no improvement from last year, no improvement. the stock market is up 13% and there's no improvement from last year. >> she's getting emotional about it. she's got a frog in her throat. >> cnn money released a list of best places to launch a business, montana, vermont, new mexico, and if you want to launch a business there you go. >> i'm thinking north dakota, i did a piece in north dakota about the fracking industry and how it's booming. lowest unemployment. >> the lowest unemployment in the country is in north dakota. i hear it's lovely this time of year. >> not a lot of nighttime. >> thank you very much. >>> developing news in california this morning, fi
economy, is the economy strong enough to stand on its own? wall street nervous, the dow posted triple-digit moves, you guys, past six sessions, dow futures up 29 points right now. brand new cnn/orc poll most americans say the economy is in poor shape and when it comes to people's finance more pessimism. 44% say they're financially worse off than a year ago, only 36% say they're better off. no improvement from last year, no improvement. the stock market is up 13% and there's no improvement from...
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Jun 20, 2013
06/13
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. >> he said the economy is getting better, that means the fed will stop all the stimulus. not right now but eventually. dow futures down 80 points, big sell-off yesterday, the dow, nasdaq, s&p all swooning by more than 1%. the dow was down 206 points. fed reserve chairman ben bernanke said the fed was prepared to "taper" its purchases of bonds as the economy improves. he signaled the stimulus program could end by next year, that could raise your borrowing costs, you would feel it. >>> a stunning turnaround for general motors for the first time j.d. power and associates says gm is the car company with the best quality. all four gm brands were ranked above the industry average. gm filed for bankruptcy back in 2009 so this is a milestone for general motors. >>> a faster version of wifi is on the way t will allow to you transfer, imagine this, a high definition movie to a tablet in less than four minutes. the samsung galaxy s4 and routers from cisco will be among the first to use this new high speed wifi. apple says its future products will use the faster network, full movie,
. >> he said the economy is getting better, that means the fed will stop all the stimulus. not right now but eventually. dow futures down 80 points, big sell-off yesterday, the dow, nasdaq, s&p all swooning by more than 1%. the dow was down 206 points. fed reserve chairman ben bernanke said the fed was prepared to "taper" its purchases of bonds as the economy improves. he signaled the stimulus program could end by next year, that could raise your borrowing costs, you would...
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Jun 18, 2013
06/13
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> the fed meets today and tomorrow and ben bernanke intends to pull back on the stimulus giving the economy. your 401(k) and your money depend on that guy right there. stay tuned. >>> chrysler has until midnight to decide whether it will recall 2.7 million jeeps. the government asked them to recall because of problems in the fuel tank that could cause a fire in rear end crashes. chrysler says we're not going to. tonight is the deadline. if chrysler does not agree to the recall the government then has to have public hearings and they can try this involuntary recall route and eventually has to take chrysler to court. >> can you explain that to me briefly. why is that a good pr move? is it a financial move? sounds bad. >> some watchdogs say it would be millions of dlafrz for them to have to recall all of these things, some of these model years are a little bit older but chrysler is determined not to recall these jeeps. they say that if there's a crash it's because the speed of the crash, not the design of the fuel tank. the government disagrees. >> that's the key. christine just told you they
> the fed meets today and tomorrow and ben bernanke intends to pull back on the stimulus giving the economy. your 401(k) and your money depend on that guy right there. stay tuned. >>> chrysler has until midnight to decide whether it will recall 2.7 million jeeps. the government asked them to recall because of problems in the fuel tank that could cause a fire in rear end crashes. chrysler says we're not going to. tonight is the deadline. if chrysler does not agree to the recall the...
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Jun 17, 2013
06/13
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he claims the economy is healing. but life is getting harder. they are worse off under the tories. >> only someone who wants to talk down our economy -- more people in work, you'd unemployment down, not one word of respect for that good agenda on jobs. he talked about airplanes. ,he former home secretary never mind getting on airplanes, this is what he said about right old gentleman's leadership. "we are literally going nowhere ." we have not even gotten on the airplane because we have not got a clue. >> last december, we welcomed the government support for a new direct rail link from swap sure to london. -- swopshire to london. does the prime minister agree that net rail should not get in the way of the people or economic progress? >> we want to see more direct rail links, like the one of which he speaks. there is also a need for better links to lancaster and black bull. one of the things they have battled with is the shortage of capacity. free up that capacity to make more of these direct links possible. we should be making some progress. last
he claims the economy is healing. but life is getting harder. they are worse off under the tories. >> only someone who wants to talk down our economy -- more people in work, you'd unemployment down, not one word of respect for that good agenda on jobs. he talked about airplanes. ,he former home secretary never mind getting on airplanes, this is what he said about right old gentleman's leadership. "we are literally going nowhere ." we have not even gotten on the airplane because...
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Jun 17, 2013
06/13
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the economy is doing fine. the sequester is having a role as well. it seems anybody would turn off the sequester before september. the budget caps will continue for some time. i would expect the kinds of cuts will continue in the foreseeable future. callswe are taking your and comments on sequestration, the and the save leaks -- anthe and any other subject you want to talk about. caller: i would like to make a few comments. payingas immigration -- taxes. when you go out for a job, if you do not have a ged, you cannot get a job. that needs to be changed. this would give jobs from the middle class -- they have been working all these years. , making young people ends meet. as far as thent, surveillance, they should not be doing that to the american people that pay taxes. people with lines are not criminal. the republicans and democrats will lose focus. host: ken from delaware. we have a few tweets about that. host: ian swanson, if you could jump in. guest: half the senate did not show up for an nsa briefing. host: do they list who does and does not atte
the economy is doing fine. the sequester is having a role as well. it seems anybody would turn off the sequester before september. the budget caps will continue for some time. i would expect the kinds of cuts will continue in the foreseeable future. callswe are taking your and comments on sequestration, the and the save leaks -- anthe and any other subject you want to talk about. caller: i would like to make a few comments. payingas immigration -- taxes. when you go out for a job, if you do not...
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Jun 16, 2013
06/13
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economy is based on militarism. that is something that we have to get away from. i think the three dangerous people in the senate are lindsey graham, john mccain, and now kelly ayotte. kelly ayotte may be the most dangerous woman in the world because she is one of the last of the neocons. i'm afraid she's a little too late to the party could we are getting sick of it. i am a ron paul republican. everythingt about all along. everybody puts them down because he is, but at least he does not believe in perpetual war for perpetual peace. host: thanks for the call. this on our twitter page -- you can live in the northeast or midwest -- you know fracking is a big issue as hurling continues. it has created an economic boom and parts of pennsylvania and the upper midwest. the headline from the "weekly standard" -- as we said, the president is heading to northern ireland for the g-8 summit. from thehill.com jack joins us from minnesota, on our line for independence. caller: good morning. i hope you can give me about half an hour. i've got a lot of things to say. i am furiou
economy is based on militarism. that is something that we have to get away from. i think the three dangerous people in the senate are lindsey graham, john mccain, and now kelly ayotte. kelly ayotte may be the most dangerous woman in the world because she is one of the last of the neocons. i'm afraid she's a little too late to the party could we are getting sick of it. i am a ron paul republican. everythingt about all along. everybody puts them down because he is, but at least he does not...
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Jun 16, 2013
06/13
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what we have had i think is a kind of this year economies essentially the american and the british economy in particular have them treated like a laboratory in which these theories have been tested. so, we have 100 years of data. 30 or 40 years we have equalization. we have had 30 years that we've had the opposite. so we can look at the impact of the two period on the economic performance. and the evidence is is the latter model capitalism that has been less successful on every major indicator of economic performance compared with a post war era so we have had slower growth since the 1980's and lower productivity and lower levels of business investment and we have had high levels of unemployment than the relative stability that we had in the 1950's and 60's. so come on a cost-benefit analysis, you know, the period of the unequal capitalism has basically coming you know, is the need a failure. so the experiment has not worked. >> host: who pushed the experiment in the two countries? >> guest: the experiment -- the idea that you should have free markets and less state regulation and as a par
what we have had i think is a kind of this year economies essentially the american and the british economy in particular have them treated like a laboratory in which these theories have been tested. so, we have 100 years of data. 30 or 40 years we have equalization. we have had 30 years that we've had the opposite. so we can look at the impact of the two period on the economic performance. and the evidence is is the latter model capitalism that has been less successful on every major indicator...
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Jun 16, 2013
06/13
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very, i feel, on the debate about how we fix the relationship between the financial system and the economy did it exist to support. this is at the center of "masters of nothing," the book we're launching this week. because throughout her life, lady bacher passionately believe capitalism was not only the effect this form of economic organization ever invented, but also the most moral. today, the first of those points is almost undisputed and we should all be grateful to the market liberals of west and east, who in free the peoples of the former communist bloc restocked in turkey so liberated billions in china and india and indonesia in beyond, from grinding poverty and prove once and for all that free markets are the greatest source of prosperity ever known to man. but the free market is a world force of good is less well understood and its moral authority hinges on two crucial factors. first, free-market airfare because we were disproportionate to effort. when markets work, those who prosper and work hard and risk their capital to succeed in making other people's lives, their customers liv
very, i feel, on the debate about how we fix the relationship between the financial system and the economy did it exist to support. this is at the center of "masters of nothing," the book we're launching this week. because throughout her life, lady bacher passionately believe capitalism was not only the effect this form of economic organization ever invented, but also the most moral. today, the first of those points is almost undisputed and we should all be grateful to the market...
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Jun 24, 2013
06/13
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we worry about our economy going down. this is a nation of deep anxiety end in that sense than nuclear terror almost becomes kind of a condenser for society's broader anxiety. and it enables -- it enables terrorists with communication skills to become a virtual nuclear powers. i mean, i was fascinated by the fact that in addition to your list of quotes at the beginning there about our predictions, we had in 2008, and a public speech by the director of the central intelligence agency say that the agency's number one nuclear concern in the world. north korea, nuclear weapons. a bunch of people have nuclear weapons. how did it they ascend to number one in this? and this is really a reflection, in many cases of our own. they became too skillful communication -- there were treated as if there were a virtual nuclear power. and in the analytical community, in the analytical community the burden of proof shifted from not looking for the evidence that they were or could be, but to try to come up with the evidence that they could no
we worry about our economy going down. this is a nation of deep anxiety end in that sense than nuclear terror almost becomes kind of a condenser for society's broader anxiety. and it enables -- it enables terrorists with communication skills to become a virtual nuclear powers. i mean, i was fascinated by the fact that in addition to your list of quotes at the beginning there about our predictions, we had in 2008, and a public speech by the director of the central intelligence agency say that...
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Jun 23, 2013
06/13
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case, a huge piece of legislation with fundamental consequences for the larger sector of the american economy passed to the house and senate without ever being carefully dissected or debated. the senate banking committee never held a proper account for section by section review of the bill. house financial-services did review legislation. markups were surprisingly cursory. debates in both houses consisted grossly a political posturing. in the end most members have only the sketchiest notion of how the bill might affect the financial sector or wasn't. as usual, all but a handful voted along party lines. in this case democrats and republicans. another characteristic of this culture, which i think maybe most importance, week members empower staff. staff run capitol hill. ted kennedy revealed this in his memoir. the state secret. i quote him. 95 percent of the real nitty gritty work on legislation is done by the staff. in my story apart from dot and frank personally the people he did the most work or had the most employable legislation were women that almost no one in washington has even heard of
case, a huge piece of legislation with fundamental consequences for the larger sector of the american economy passed to the house and senate without ever being carefully dissected or debated. the senate banking committee never held a proper account for section by section review of the bill. house financial-services did review legislation. markups were surprisingly cursory. debates in both houses consisted grossly a political posturing. in the end most members have only the sketchiest notion of...
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Jun 19, 2013
06/13
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some republicans don't vote. >> illegal immigration is built into the economy of america. it is built in. i mean who's going to pick strawberries for $5 a day? are you going to do it? the minute you have to pay $1 for every strawberry, you'll be smuggling mexicans in the back of your suv. in the back, okay! >> john: harrison? >> it is perfect. he's been straddling the fence. take the fence and use it to make the border. it is perfect. >> i hate to say this but i don't really think that republicans have been, you know, relying on a fair voting process in order to win elections. >> john: how so do you mean? >> well, you know, the whole thing with the supreme court and gore winning. >> john: it has nothing to do with stealing elections. it seems like a long had been term prudent strategy by a latino republican to draw an entire culture into the party. >> i don't think he realized how, you know, how much the tea party -- they don't like immigrants. they don't. i don't think. you know. i'm not saying they're bigoted. they don't like immigrants. they think that those votes are g
some republicans don't vote. >> illegal immigration is built into the economy of america. it is built in. i mean who's going to pick strawberries for $5 a day? are you going to do it? the minute you have to pay $1 for every strawberry, you'll be smuggling mexicans in the back of your suv. in the back, okay! >> john: harrison? >> it is perfect. he's been straddling the fence. take the fence and use it to make the border. it is perfect. >> i hate to say this but i don't...
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Jun 22, 2013
06/13
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hurting the economy more than it has helped. editor-in-chief steve forbes, great to have you with us. qe appears to be at an end, sort of. $85 billion continues, the rates are moving higher, so that will be problematic. your thoughts on the timing on all of thisy the fed chairman. >> three years late, better late than never, what ben bernanke has done inadvertently this make it easier for the vernment to deficit spending, get back on their feet, issue newonds but for the rest of the economy, smaller businesses like with what they said in russia, health care is free but you can't get any. they a thehe job creators, they are hurt by what bernanke did. not much left for the small guys. lou: a lot of lilimited government, some of them are anti-fed. oh, my gosh, we cannot conclude it a $5 billion per month. i do not like what he has done, bbt don't let him reverse course here. there is a chorus of hypocrisy in pleading for more punch bowl, please. >> it is hard to give up when you have it. bernanke will not do this precipitously, wil
hurting the economy more than it has helped. editor-in-chief steve forbes, great to have you with us. qe appears to be at an end, sort of. $85 billion continues, the rates are moving higher, so that will be problematic. your thoughts on the timing on all of thisy the fed chairman. >> three years late, better late than never, what ben bernanke has done inadvertently this make it easier for the vernment to deficit spending, get back on their feet, issue newonds but for the rest of the...
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Jun 19, 2013
06/13
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what kind of an impact cululd an atck on e new york stock exchange have on the economy? joining me now is former nsa offici colonel cedric layton. welcome back to the show. >>y pleasure, melissa. melissa: on the positive side reaction to today's hearing sort of across the board w that this certainly seemed up fnt, more profeional, more prepared than thearade of jokers we saw coming out t testify on behalf of the irs or any oth hearings. this had much more official, much more researched feel tooit, would you agree with that? >> o absolutely and when you lookok at the relationship nsa s had with the congressional oveesight committee such as the house coittee where tis hearing was today an the senate intelligence committee, i'll tell you from my psonal experience as well as what i s today it was absolutely the mos% professional hearing. it was very much to the point. it got a lst questions answered and, really an exale how these kind o activities can be examined through congressional oversight and something i think americans are hopefully proud of at this point. melissa: th
what kind of an impact cululd an atck on e new york stock exchange have on the economy? joining me now is former nsa offici colonel cedric layton. welcome back to the show. >>y pleasure, melissa. melissa: on the positive side reaction to today's hearing sort of across the board w that this certainly seemed up fnt, more profeional, more prepared than thearade of jokers we saw coming out t testify on behalf of the irs or any oth hearings. this had much more official, much more researched...
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Jun 20, 2013
06/13
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>> the economy is healing. we are seeing a very modest recovery that has lasted as long as most recoveries and potentially collapse along because it has been some modest. this shows a lot of basically capacity in the system and the fact is real-estate is recovering very late in the cycle which is unusual, it is usually the beginning of a cycle and that is one of the things that is helping to begin to turn to extend this recovery longer. dennis: peter schiff -- you have been telling us for years to buy gold and gold is down 27% or 30% from its recent highs, why is gold down today? why is it not a safe haven when stocks are plunging? >> people and making the mistake by selling their goal. doesn't only goal of. people doing the wrong thing, people are misinterpreting what is happening in the economy like your guest is. the economy is not recovering. it is in worse shape than it was before the fed began this crazy experiment. always manage to do with record amounts of stimulus is blow a little air back into a defla
>> the economy is healing. we are seeing a very modest recovery that has lasted as long as most recoveries and potentially collapse along because it has been some modest. this shows a lot of basically capacity in the system and the fact is real-estate is recovering very late in the cycle which is unusual, it is usually the beginning of a cycle and that is one of the things that is helping to begin to turn to extend this recovery longer. dennis: peter schiff -- you have been telling us for...